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UAE GDP grew by 1.7% in 2019, says central bank

News Network
May 5, 2020

Abu Dhabi, May 5: The overall real GDP (gross domestic product) of the United Arab Emirates is estimated to have grown by 1.7 percent in 2019, the country’s central bank said in a statement on Monday carried by WAM.

"The UAE hydrocarbon sector is estimated to have exhibited a growth of 3.4 percent in 2019. However, non-oil activities advanced at a softer pace growing by 1.0 percent. As a result, overall real GDP is estimated by FCSA (Federal Competitiveness and Statistics Authority) to have grown by 1.7 percent in 2019," said the financial regulator in its Annual Report 2019.

"The spread of COVID-19 is expected to impact trade and supply chain movements, coupled with travel restrictions which paves way for high volatility in capital markets and commodity prices. While the outbreak is expected to negatively affect the global and domestic economies, it is still early to gauge the scale of the economic fallout," the report added.

The report noted that the higher hydrocarbon output, as well as growth in non-hydrocarbon economic activity, supported the pace of the country's overall economic growth in 2019.

"Meanwhile, the fading effect of VAT, the appreciating Dirham, lower energy prices and decline in rents pushed inflation in negative territory. However, the employment rate registered a steady rebound. Looking ahead, the economic outlook for 2020 remains uncertain owing to the COVID-19 outbreak," the report elaborated.

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Agencies
June 22,2020

Riyadh, Jun 22: The Ministry of Municipal and Rural Affairs (MMRA) in Saudi Arabia has announced the continuation of the ban on providing Shisha (hubble-bubble), and the closure of children's play areas in restaurants as a precautionary measure for protecting the health of citizens and residents from the novel coronavirus COVID-19 infection.

The new stage, in which the Kingdom is beginning to coexist with the virus, focuses on the concept of "social distancing" that has emerged since the start of the coronavirus crisis throughout the world,

It stipulates leaving at least 2 meters between one person and the other in public places to prevent the transmission of infection, in addition to covering the mouth and nose by wearing a facemask.

It also specifies complying with the preventive protocols in workplaces, stores, shops, mosques and tourist attractions, with human gatherings not to exceed 50 people, as a maximum.

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News Network
April 18,2020

Apr 18: Taking a strong notice of Islamophobia on social media, Princess Hend Al Qassimi, a member of the royal family of United Arab Emirates, called out a series of tweets by a user named Saurabh Upadhyay.

Upadhyay had posted tweets attacking Muslims over the Tablighi Jamaat congregation held in March in Delhi that led to surge of coronavirus cases cases in India. He also gave into rumours of muslims ‘spiting on food’ to spread the virus.

Princess Qassimi shared the screenshots of his tweets and warned that those engaging in racism and Islamophobia will have to pay penalty and will be made to leave UAE. Upadhyay has apparently deactivated his Twitter handle now.

Responding to his earlier posts, she though the ruling family of UAE is “friends with Indians”, his rudeness was “not welcome”.

“All employees are paid to work, no one comes for free. You make your bread and butter from this land which you scorn and your ridicule will not go unnoticed,” she wrote.

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News Network
April 10,2020

Dubai, Apr 10: Saudi Arabia reported 364 new coronavirus cases and three new virus-related deaths, the Ministry of Health announced on Friday.

The total number of confirmed cases in the Kingdom is 3,651, out of which 2,919 are currently active, the ministry added.

Out of the new cases, 90 were recorded in Mecca, 78 in Medina, 69 in Riyadh, and 54 in Jeddah, the ministry said.

Meanwhile, the number of fatalities rose to 47, while th number of recoveries reached 685.

The daily number of confirmed cases in Saudi Arabia has not peaked yet, and has been rapidly accelerating.

Saudi Arabia’s Minister of Health had said earlier this week that four different studies showed that the number of coronavirus cases in the Kingdom could reach between 10,000 to 200,000 within weeks.

The ministry spokesman emphasized the urgent need for citizens and residents to remain at home and maintain social distancing practices to ensure that the virus does not spread further.

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